THE FUEL YARD Yard CHURCH ROAD, FINGLAS, CO DUBLIN

THE Fuel THE FUEL YARD Yard CHURCH ROAD, FINGLAS, CO DUBLIN

FOR SALE BY PRIVATE TREATY MULTI-FAMILY INVESTMENT OPPORTUNITY DUBLIN CITY CENTRE

LOCATION The property is located in Finglas Village at the junction of the Finglas road and Church Road.

Finglas is a residential suburb located approx. 5km’s north-west of Dublin city centre. The area has a wide variety of local amenities including Clearwater and Charlestown Shopping Centres, Ikea, DCU, Tolka Valley Park and Botanic Gardens.

The property benefits from excellent transport links and is accessed by car via Church Road with pedestrian access from the Finglas Road.

FINGLAS VILLAGE 5km’s FROM DUBLIN THE CITY CENTRE Fuel THE FUEL YARD IKEA Yard J5

R104 M50

M50 N2

FINGLAS VILLAGE THE R103 INVESTMENT CONSIDERATIONS THE FUEL YARD DCU Fuel BEAUMONT • 5-storey multi-family investment opportunity with further CLEARWATER S.C. GLASNEVIN development potential (SPP) YardQBC WHITEHALL

• Strategically located just off the N2 and approximately 5km’s TOLKA VALLEY PARK R108 north-west of Dublin city centre € N1 • 18 modern apartments comprising 7 one-bedroom LUAS BOTANIC GARDENS GROSS RENTAL INCOME apartments, 10 two-bedroom apartments, and 1 three- OF APPROXIMATELY bedroom apartment ASHTOWN MARINO • Opportunity to convert office space to 2 apartments and €262,000 R147 CLONTARF develop a further 7 apartments (SPP) PER ANNUM DRUMCONDRA • Currently producing a revisionary rental income of approximately €262,000 per annum PHOENIX PARK R105 R108 EAST WALL R805 N1

DUBLIN CITY CENTRE ASSET OVERVIEW DEVELOPMENT POTENTIAL TENANCY VIEWINGS The development comprises a mix of 1, 2 and 3 bed (S.P.P) The 18 apartments are fully occupied and let under Viewings are strictly to be arranged apartments ranging in average size from 47.3 sq. m for a standard residential tenancies. through the selling agents. one- bed, 57.4 sq. m for a two-bed and 85 sq. m for a three • Extension to the north providing bed. 7 apartments Rental levels currently average approximately €1,119 per month for a one-bedroom apartment TITLE • Conversion of ground floor store All the apartments are dual aspect and benefit from and €1,299 per month for a two-bedroom Freehold balconies which over look an attractive podium level garden. and convert office space to apartment and €1350 for a three-bedroom residential, providing 2 additional apartment. The total gross rental income is The block also benefits from two operating lifts and two stair apartments currently approximately €262,000 per annum. BER RATING wells providing access to the upper floors. • Potential additional floor based on new height guidelines PRICING providing 7 additional PROJECT DATASITE apartments Guiding in excess of €4,250,000 (Subject to Contract) Link TBC FLOOR PLANS DESIGN PROPOSALS

GROUND FLOOR PEESTRIAN OFFICE ACCESS

WINTERGARDEN WINTERGARDEN PROPOSED 1 BED APARTMENT

CONVERSION KITCHEN 27M² LIVING 34M² BATHROOM BEDROOM BIN STORE BEDROOM PROPOSED RETAIL/ COMMUNAL 5.8M² 20M² 19M² 12M²

SPACE LIVING

STORE KITCHEN STORE BATHROOM 5.6M²

PROPOSED RETAIL/ COMMUNAL SPACE

PLANT ROOM

1 2 3 4

5 6 7 8

20 19

18 17 21 16 15 14 13 12 11 22 10 9 24

FIRST FLOOR PROPOSED 1 BED APARTMENT

BEDROOM BEDROOM BEDROOM 6.4M² BEDROOM BEDROOM 6.4M² 6.4M² 10M² 10M² BEDROOM PROPOSED 2 BED 10M² BEDROOM APARTMENT 9.9M² BEDROOM STORAGE 9.8M² 3.2M² WC STORE STORE 4.5M² WC STORE 2.5M² 2.5M² ST 4.5M² WC 2.5M² EXISTING APARTMENTS ST STORAGE WC 4.6M² NORTHERN 5.5M² WC 5M²

WC KITCHEN / 5.5M² KITCHEN / KITCHEN / LIVING KITCHEN / KITCHEN / LIVING LIVING 21M² EXTENSION BEDROOM LIVING LIVING 14.6M² 21M² 21M² 21M² 15.5M²

KITCHEN / - FIRST BEDROOM LIVING 12.5M² 30M²

BATHROOM 4M² BEDROOM FLOOR 16M² KITCHEN / LIVING TERRACE 30M² STORAGE 8.3M² 2.8M² SECOND FLOOR TERRACE 5.8M² EXISTING COMMUNAL OPEN SPACE 470M²

PROPOSED 1 BED APARTMENT BEDROOM 6.4M² BEDROOM BEDROOM BEDROOM 10M² BEDROOM 10M² 6.4M² PROPOSED 2 BED 6.4M² NORTHERN APARTMENT BEDROOM 10M² BEDROOM THIRD FLOOR 9.9M² BEDROOM STORAGE 9.8M² 3.2M² EXISTING APARTMENTS WC STORE STORE 4.5M² WC STORE EXTENSION 2.5M² 2.5M² 2.5M² ST 4.5M² WC ST STORAGE WC 4.6M² 5.5M² WC - SECOND 5M² WC KITCHEN / 5.5M² KITCHEN / KITCHEN / LIVING KITCHEN / KITCHEN / LIVING LIVING 21M² BEDROOM LIVING LIVING 14.6M² 21M² TO FOURTH 21M² 21M² 15.5M²

KITCHEN / BEDROOM LIVING FLOOR 12.5M² 30M² BATHROOM 4M² BEDROOM 16M² KITCHEN / LIVING TERRACE 30M² STORAGE 8.3M² 2.8M²

TERRACE 5.8M²

FOURTH FLOOR

ECONOMIC OVERVIEW units that are available to rent has fallen sharply since 2011 with vacancy now standing at just 1.31%. This Ireland continues to experience the fastest rate of is significantly below the Natural Vacancy Rate (NVR) economic growth in the EU with total output rising at an which we econometrically estimate to be 5.3% in the annual rate of 9.0%. Jobs growth remains the catalyst capital. Theory suggests that if the actual vacancy rate for this expansion. More than 74,000 net new jobs lies beneath the NVR the market is undersupplied and have been created in the last twelve months and total rents will be rising, and that’s exactly what is happening. employment has now surpassed its boom-time peak. Average residential rents in Dublin are currently rising by 7.8% per annum.

PRIVATE RENTED SECTOR RESIDENTIAL RENTAL MARKET In the early 2000s, approximately 12% of households in Dublin rented privately. During this period private renting Rent controls were first introduced in Dublin in was generally considered a secondary tenure that was December 2016. Generally, these limit rental growth mainly for young people transitioning towards a longer- to a maximum of 4% per annum. However, there term goal of home ownership. More recently, however, are exemptions for properties that have not been strong house price inflation and stricter mortgage previously let within the last two years and in the case lending have made homeownership less affordable. of a substantial change in the nature of accommodation Along with changing attitudes to renting, these dynamics provided by a landlord. These legislative changes allow have led to the proportion of households renting for the possibility of a divergence between average rental privately in Dublin rising to over 24%. growth rates and rental growth rates on newly let or new build properties and appear to explain why rental growth Despite an increase in the overall stock of properties in Dublin continues to exceed the regulated growth rate in Dublin’s private rented sector (PRS), the number of of 4% per annum.

SELLING AGENT SOLICITORS

Kennedys Blood Stone Building Sir John Rogerson’s Quay Savills Dublin 2 33 Molesworth Street CAROL MAGUIRE Dublin 2 +353 (0) 1 482 5708 SHANE CORBY [email protected] [email protected] +353 (0)1 618 1450

DARRAGH DOYLE [email protected] +353 (0)1 618 1341

DESSIE KILKENNY [email protected] +353 (0)1 618 1401

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